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EUR/USD, FTSE and ETH/USD analysis - Technical Tuesday, March 12, 2024
Welcome to another edition of Technical Tuesday, a weekly report where we highlight some of the most interesting markets that will hopefully appease technical analysts and traders alike. In this week’s report, we will analysis the EUR/USD, FTSE and Ether following recent bullish price action in all these markets.
FTSE analysis: UK stocks outperform as Chinese markets and commodities rally
UK stocks track Chinese markets and commodities higher. Rising commodity and precious metals prices should support mining stocks, plenty of which are constituents of the FTSE. Meanwhile, technical analysis suggests the UK stock index could finally join global rally.
FTSE outlook positive despite weaker start
China’s export jump is a positive sign for demand. Rising commodity prices should support mining stocks in the FTSE. Meanwhile, technical outlook point higher for the UK index.
Nasdaq 100, AAPL Forecast: Can NDX Extend Its Rally without Apple?
The Nasdaq 100 ostensibly digested yesterday’s dip well, potentially setting the stage for a continuation to new all-time highs, but…
FTSE, China A50 analysis: Technical Tuesday - March 5, 2024
FTSE 100 attempts to join global rally, boosted by China's efforts to shore up its economy. China FTSE A50 analysis shows Chinese stocks are responding positively to needs China has set a 5% GDP target, which will needs policy support ‘from all fronts’
NZD/USD tumbles as the RBNZ defies hawks, release doves
It's been a volatile 30-mins for NZD pairs after the RBNZ held rates and provided a dovish tilt to their statement, which has seen a broad selloff.
S&P 500, DJIA Analysis: The Definitive Guide to the Stock Market’s Performance on “Leap Day”
Since 1950, the S&P 500 and DJIA have seen relatively weak performance on Leap Day, with an average decline of -0.1%. Read on for more details!
AUD/USD, US dollar, Swiss franc analysis: COT report – Feb 26, 2024
Traders remained net-long US dollar index futures last week, although asset managers have the more convincing bullish view for the dollar.
Nasdaq analysis: Nvidia-fuelled tech rally pauses, but what now?
Nvidia topped $2 trillion valuation in first for chipmakers, but rally lost steam Friday. Magnificent 7 stocks’ charts point to caution as we look ahead to the new week. The Nasdaq chart point to bullish caution.
DAX futures, Nikkei 225 hit record highs: European open
It was a lively session for equity traders in Asia on Thursday, with the Nikkei 225 and DAX futures hitting record highs. The Nikkei made its inevitable run to 39k and touched a record high, by a cat's whisker.
FTSE analysis: Disparity between UK and European stocks grows larger
HSBC and Glencore shares drop on disappointing earnings, although the overall positive appetite for global stocks and China’s latest efforts to shore up its stock market keeps the FTSE’s downside limited, as attention turns to the upcoming earnings results from Nvidia after the close.
USD/JPY forecast: 151 seems plausible, 152 may be a stretch
USD/JPY is clinging to 150 despite the weaker US dollar on Tuesday, as there seems little reason for traders to bid the yen. And unless we receive a compelling reason to buy then yen via a surprisingly hawkish BOJ or broad risk-off environment, it becomes difficult to construct an overly bearish case for USD/JPY whilst the Fed remain quiet about rate cuts.
NVDA Earnings Preview: Nasdaq 100 Vulnerable Ahead of AI Darling Nvidia’s Results
Options traders expect a +/- 11% move in response to Nvidia’s earnings report, a truly staggering move in a $1.8T stock. See what we're watching!
DAX outlook: German index aims to reach new highs
What has driven the German index to record highs and can the rally persist? US investors are back, with Nvidia earnings coming into focus this week. DAX technical analysis shows index is testing key support.
DAX analysis: How long will the rally continue?
The German index hit another record high on Friday, but the risk of a potential correction in tech sector is increasing. For now, the DAX continues to point higher, which means the bears must continue to wait for the right signal.
The Week Ahead: S&P 500 Uptrend May Come Down to NVDA Earnings
Nvidia’s earnings will be a key hurdle to determine whether the S&P 500 uptrend can continue. See what else we'll be watching!
S&P 500, Nasdaq 100, DJIA Forecast: Cracks in the Index Uptrends?
The S&P 500 and Nasdaq 100 remain in healthy uptrends for now but the DJIA is showing some cracks and is the key index to watch for signs of weakness from here.
Nasdaq analysis: What now after CPI-related sell-off?
Nasdaq analysis: risk of correction is increasing day by day, but after the CPI-related dump, markets have bounced back. Nasdaq technical analysis shows bullish trend held but could it break soon?
AUD/USD, ASX 200 forward testing: Australian employment report
I’m particularly keen to see if the significant loss of full-time jobs is seen for a second consecutive month in tomorrow's Australian employment report. So today we look at how the ASX 200 and AUD/USD have performed around this key economic data release.
US dollar, Nasdaq, S&P 500, gold analysis: Forward testing US CPI
Attention shifts the today’s US CPI report, which is arguably the biggest event of the week. So we crunch some numbers on the US dollar, S&P 500, Nasdaq and gold to see how they have performed around it.
FTSE outlook: UK stocks underperform again but future may be brighter
FTSE continues to underperform European and US markets, with new records or multi-year highs set for mainland European indices after S&P crossed 5K. Yet the FTSE was lower again. Still, UK stocks are at “record cheap” levels ahead of busy week of data.
S&P 500, Nasdaq 100, DJIA Forecast: MSFT, NVDA, and TSLA Power Indices to Record Highs
The DJIA is the index to watch for a possible breakdown if stocks stall out this week... but bears shouldn't be holding their breath. See why!
S&P 500, DJIA, Gold: How 40+ Years of Fed Rate Cuts Have Impacted Stock Markets and Gold
The start of a new Fed rate cut cycle doesn’t necessarily lead to the “obvious” bullish reaction in the S&P 500 and DJIA that the “don’t fight the Fed” mantra would have you believe... read on to see the actual data!